Update on Labour Disruptions in South Africa

RNS Number : 4815R

Petra Diamonds Limited

21 September 2017

 

This announcement contains inside information

21 September 2017

LSE: PDL

Petra Diamonds Limited

("Petra" or the "Company" or the "Group")

Update on Labour Disruptions in South Africa

Petra Diamonds Limited confirms that it has received a notice from the National Union of Mineworkers ("NUM") indicating the intention to strike at the Koffiefontein mine in South Africa from Friday 22 September 2017.

As previously announced, labour disruption is also currently being experienced at the Finsch and Kimberley Ekapa Mining JV operations. The situation remains the same that while underground mining has been affected, plant treatment is continuing at near normal capacity at both operations, treating surface material and available stockpiles, to ensure the least possible impact on Group production. The Cullinan mine has not been impacted by labour disruption and production continues there as normal.

The Company remains in ongoing discussions with NUM in order to resolve the situation and Petra will update the market as soon as is appropriate with further clarity on the potential impact of the disruption to the Group.

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For further information, please contact:

Petra Diamonds, London                                         Telephone: [phone]

Cathy Malins                                                               [e-mail] 

Buchanan                                                                  Telephone: [phone]

(PR Adviser)

Bobby Morse                                                               [e-mail]

Anna Michniewicz                                                       [e-mail]

About Petra Diamonds Limited

Petra Diamonds is a leading independent diamond mining group and an increasingly important supplier of rough diamonds to the international market. The Company has interests in five producing operations: three underground mines in South Africa (Finsch, Cullinan and Koffiefontein), the Kimberley Ekapa Mining joint venture (including the Kimberley Underground mine and extensive tailings retreatment operations) and one open pit mine in Tanzania (Williamson).  It also maintains an exploration programme in Botswana and South Africa.

Petra has a core objective to steadily increase annual production to 5.0 - 5.3 million from FY 2019 onwards. The Group has a significant resource base in excess of 300 million carats.

Petra conducts all operations according to the highest ethical standards and will only operate in countries which are members of the Kimberley Process. Petra is quoted with a premium listing on the Main Market of the London Stock Exchange under the ticker 'PDL' and is a constituent of the FTSE4Good Index. For more information, visit www.petradiamonds.com.

 

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